Revenue agency to ask for $20 million loan from SC

The South Carolina Department of Revenue says it immediately needs $20,170,000 to cover expenses related to IT security and the recent breach of its database– which resulted in the theft of millions of taxpayer ID numbers.

Haley, Etter brief media on security breach

While legislative committees are investigating why it happened, the cabinet agency is still saddled with repairing and safeguarding information from future intrusions.

The Budget and Control board by law may borrow from other departments of state government for unexpected expenses. Gov. Nikki Haley chairs the Budget and Control Board.

In the past, the board helped The Citadel with expenses related to the federal decision to allow women to become cadets. In 2009, the board helped with $9 million for the costs to Patriots Point to take care of the USS Laffey.

But in recent years, no loans nearing $20 million dollars have been granted.

Gov. Haley has said that incidents like the DOR breach are an argument for the state keeping more money on hand at the end of each budget year.